Global Point of Sale (POS) Terminal Market: Size and Forecasts with Impact Analysis of Covid-19 (2020 Edition)
- Report Description Table of Contents
Scope of the Report
The report titled “Global Point of Sale (POS) Terminal Market: Size and Forecasts with Impact Analysis of Covid-19 (2020 Edition)”, provides an in-depth analysis of the global POS terminals market by value and by shipment . The report also gives an insight of the global POS terminals market by products, by components, by region, etc.
The report also includes the analysis of the global software POS market, global hardware POS market. The report provides a regional analysis of the POS terminal market, including the following regions: North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry.
Growth of the overall global POS terminals market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The competition in the global POS terminal market is dominated by the two big players, Ingenico and Verifone. Further, key players of the POS terminal market Ingenico, Verifone, Toshiba Tech Corp and PAX Global are also profiled with their financial information and respective business strategies.
- Toshiba Tech Corp
- PAX Global
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The POS terminals market can be segmented according to the components, into hardware POS terminals and software POS terminals. The POS terminal market can also be segmented according to the product type, into fixed POS terminals and wireless/mobile POS terminals. The POS Terminal market could also be segmented on the basis of technology into NFC enabled POS terminals and non-NFC enabled POS terminals.
The global POS terminal market has increased at a significant CAGR during the years 2015-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The POS terminal market is expected to increase due to rising e-commerce sales, growing adoption of smartphones, technological upgradation, rising number of electronic payment transactions, adoption of cloud technology etc. Yet the market faces some challenges such as, non compliance to PCI, low POS terminal penetration rate in ASEAN countries, and selection of wrong POS.
Covid-19 pandemic is an irritant for the growth of the revenues of POS terminal market in 2020. This is due to the fact that major users of these terminals such as supermarkets, hotels, spas etc. have been closed down due to lockdowns imposed in various countries across the globe. Many retailers have been cash stripped and as such are not in position to invest greatly into POS technologies in the current scenario. However, the demand for POS terminal would showcase recovery backed by reopening of the above mentioned places as a part of economy revival measures. Further, as the impact of Covid-19 subsides, mobile POS adoption is expected to intensify owing to less physical contact and better queue management compared to traditional counterpart.